BBU - Brookfield Business Partners Q3 top line beat acquisitions boost adjusted EBITDA

Brookfield Business Partners ( NYSE: BBU ) posted Q3 revenue Friday that easily topped the Street consensus and rose from a year ago and all of its business segments benefited from the contributions of new acquisitions, resulting in a solid climb in adjusted EBITDA.

Also, “the proceeds we expect to generate from the recently announced sale of our nuclear technology services operation will meaningfully enhance our corporate liquidity," said CEO Cyrus Madon.

Adjusted EBITDA of $627M at September 30, exceeding the average analyst estimate of $563M, rose from $443M at Sept. 30, 2021.

Q3 revenue of $14.74B, breezing past the $3.54B consensus, increased from $12.04B a year before.

The private equity firm ended the third quarter with ~$2.5B of liquidity at the corporate level, including $538M of cash and liquid securities, $1.2B of availability on our credit facilities and $750M of remaining availability on Brookfield Asset Management's commitment to subscribe for up to $1.5B of perpetual preferred equity securities.

It declared a quarterly dividend of $0.0625 a share payable on December 30 to shareholders of record as of the close of November 30.

Conference call at 9:30 a.m. ET.

Earlier, Brookfield Business partners GAAP EPS of -$0.14, revenue of $14.74B beats by $11.2B

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